The Nigerian naira posted a notable gain against the United States dollar on Friday, driven by the country’s rising external reserves. According to data from the Central Bank of Nigeria, the naira appreciated to N1,455.17 per dollar, a rise of N11.48 from the previous day’s rate of N1,466.65. This upturn represents the strongest weekly gain for the naira, matching a level last seen on the previous Thursday when it traded at N1,455.24.
The appreciation is linked to an increase in external reserves, which rose to $42.58 billion as of October 9, 2025, up from $42.40 billion on October 2, 2025. In the official foreign‑exchange market as well as the parallel market, the naira also strengthened, trading at N1,503 per dollar on Friday compared with N1,505 the day before.
The growth in external reserves is a positive development for the Nigerian economy, indicating a larger stock of foreign‑exchange holdings. A more stable currency supports foreign investment and promotes economic growth, and the recent gains in the naira’s value are therefore welcome. The upward trend in reserves provides a cushion for the economy and helps to stabilize the naira, underscoring Nigeria’s efforts to manage its foreign‑exchange position and maintain currency stability.
As the economy continues to evolve, the performance of the naira will remain a key indicator of progress. With external reserves expected to keep rising, the naira’s value is likely to remain stable, offering a positive outlook for Nigeria’s economic future.
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